Announcement • May 18
TrueContext Corporation Announces Board Appointments TrueContext Corporation announced Chelsea Stoner, a Battery general partner joins TrueContext’s board and Battery Principal Dillon Joyce, who is also joining the board. Buy Or Sell Opportunity • May 09
Now 20% undervalued Over the last 90 days, the stock has risen 36% to CA$1.05. The fair value is estimated to be CA$1.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Reported Earnings • Mar 20
Full year 2023 earnings released: US$0.017 loss per share (vs US$0.035 loss in FY 2022) Full year 2023 results: US$0.017 loss per share (improved from US$0.035 loss in FY 2022). Revenue: US$24.4m (up 14% from FY 2022). Net loss: US$2.15m (loss narrowed 52% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Announcement • Mar 15
Battery Ventures entered into an arrangement agreement to acquire TrueContext Corporation (TSXV:TCXT) for approximately CAD 140 million. Battery Ventures entered into an arrangement agreement to acquire TrueContext Corporation (TSXV:TCXT) for approximately CAD 140 million on March 13, 2024. Under the Arrangement Agreement, the Buyer will acquire the outstanding Shares of the Company, and each Shareholder will receive CAD 1.07 per Share. Upon completion of the Transaction, TrueContext will become a privately held company. The Transaction values the Company’s total equity at approximately CAD 150 million on a fully diluted basis. The Special Committee comprised of independent directors of the Company unanimously recommended that the board of directors of the Company (the “Board”) approve the Transaction. The Board unanimously approved the Transaction and unanimously determined to recommend that the Shareholders vote in favour of the Transaction. Battery has entered into voting support agreements with certain Shareholders (collectively, the “Supporting Shareholders”) and all of the directors and officers of the Company holding an aggregate of 76.4% of the outstanding Shares. Following closing of the Transaction, the Shares will be delisted from the TSXV. The Company is subject to non-solicitation provisions which, in certain circumstances, allow the Board to terminate the Arrangement Agreement in favour of a superior proposal, subject to the payment of a termination fee of approximately CAD 6.3 million, in certain circumstances, and a right of the Buyer to match such superior proposal.
The Transaction will be implemented by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of 66 2/3% of the votes cast by Shareholders, as well as the approval by a simple majority of votes cast by Shareholders, excluding certain Shareholders required to be excluded under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) at a special meeting of Shareholders to be called to approve the Transaction (the “Special Meeting”). The completion of the Transaction is subject to obtaining required court approval and satisfaction of closing conditions customary for a transaction of this nature. It is anticipated that the Special Meeting will be held in early May 2024. The Transaction is expected to close in the second quarter of 2024.
Canaccord Genuity is acting as financial advisor and fairness opinion provider to the Special Committee formed by TrueContext. Blake, Cassels & Graydon LLP and LaBarge Weinstein LLP are acting as counsel to the Special Committee and the Company, respectively. CIBC Capital Markets is acting as financial advisor to Battery. Osler, Hoskin & Harcourt LLP and Cooley LLP are acting as counsel to Battery. New Risk • Mar 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$4.3m). Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (CA$102.2m market cap, or US$75.9m). Reported Earnings • Nov 02
Third quarter 2023 earnings released: US$0.002 loss per share (vs US$0.008 loss in 3Q 2022) Third quarter 2023 results: US$0.002 loss per share (improved from US$0.008 loss in 3Q 2022). Revenue: US$6.16m (up 13% from 3Q 2022). Net loss: US$265.1k (loss narrowed 74% from 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 15% per year. Announcement • Oct 26
ProntoForms Corporation to Report Q3, 2023 Results on Nov 01, 2023 ProntoForms Corporation announced that they will report Q3, 2023 results on Nov 01, 2023 Reported Earnings • Jul 26
Second quarter 2023 earnings released: US$0.009 loss per share (vs US$0.01 loss in 2Q 2022) Second quarter 2023 results: US$0.009 loss per share (improved from US$0.01 loss in 2Q 2022). Revenue: US$6.12m (up 18% from 2Q 2022). Net loss: US$1.15m (loss narrowed 14% from 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jul 24
ProntoForms Corporation to Report Q2, 2023 Results on Jul 26, 2023 ProntoForms Corporation announced that they will report Q2, 2023 results on Jul 26, 2023 Price Target Changed • Jul 14
Price target increased by 24% to CA$1.05 Up from CA$0.85, the current price target is provided by 1 analyst. New target price is 110% above last closing price of CA$0.50. The company posted a net loss per share of US$0.035 last year. Board Change • Jul 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Terry Matthews was the last independent director to join the board, commencing their role in 2009. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 12
First quarter 2023 earnings released: US$0.009 loss per share (vs US$0.012 loss in 1Q 2022) First quarter 2023 results: US$0.009 loss per share (improved from US$0.012 loss in 1Q 2022). Revenue: US$5.77m (up 14% from 1Q 2022). Net loss: US$1.13m (loss narrowed 27% from 1Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • May 04
ProntoForms Corporation to Report Q1, 2023 Results on May 10, 2023 ProntoForms Corporation announced that they will report Q1, 2023 results at 8:30 AM, US Eastern Standard Time on May 10, 2023 Price Target Changed • Mar 29
Price target increased by 24% to CA$1.05 Up from CA$0.85, the current price target is provided by 1 analyst. New target price is 106% above last closing price of CA$0.51. Stock is down 39% over the past year. The company posted a net loss per share of US$0.035 last year. Reported Earnings • Mar 10
Full year 2022 earnings released: US$0.035 loss per share (vs US$0.035 loss in FY 2021) Full year 2022 results: US$0.035 loss per share (in line with FY 2021). Revenue: US$21.3m (up 10% from FY 2021). Net loss: US$4.45m (flat on FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • Feb 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Terry Matthews was the last independent director to join the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Jan 12
Price target decreased to CA$0.85 Down from CA$1.05, the current price target is an average from 2 analysts. New target price is 70% above last closing price of CA$0.50. Stock is down 42% over the past year. The company posted a net loss per share of US$0.035 last year. Price Target Changed • Dec 28
Price target decreased to CA$0.85 Down from CA$1.05, the current price target is an average from 2 analysts. New target price is 81% above last closing price of CA$0.47. Stock is down 45% over the past year. The company posted a net loss per share of US$0.035 last year. Price Target Changed • Nov 18
Price target decreased to CA$0.85 Down from CA$1.05, the current price target is an average from 2 analysts. New target price is 89% above last closing price of CA$0.45. Stock is down 56% over the past year. The company posted a net loss per share of US$0.035 last year. Reported Earnings • Nov 04
Third quarter 2022 earnings released: US$0.008 loss per share (vs US$0.009 loss in 3Q 2021) Third quarter 2022 results: US$0.008 loss per share (improved from US$0.009 loss in 3Q 2021). Revenue: US$5.46m (up 12% from 3Q 2021). Net loss: US$1.01m (loss narrowed 9.3% from 3Q 2021). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Oct 28
ProntoForms Corporation to Report Q3, 2022 Results on Nov 03, 2022 ProntoForms Corporation announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 03, 2022 Recent Insider Transactions Derivative • Sep 21
Founder exercised options to buy CA$231k worth of stock. On the 15th of September, Alvaro Pombo exercised options to buy 650k shares at a strike price of around CA$0.38, costing a total of CA$244k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since December 2021, Alvaro has owned 4.67m shares directly. Company insiders have collectively bought CA$524k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Sep 14
Chief Financial Officer exercised options to buy CA$63k worth of stock. On the 6th of September, David Croucher exercised options to buy 170k shares at a strike price of around CA$0.38, costing a total of CA$64k. This transaction amounted to 25% of their direct individual holding at the time of the trade. Since September 2021, David's direct individual holding has decreased from 710.70k shares to 685.70k. Company insiders have collectively bought CA$175k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 18
Second quarter 2022 earnings released: US$0.01 loss per share (vs US$0.009 loss in 2Q 2021) Second quarter 2022 results: US$0.01 loss per share (down from US$0.009 loss in 2Q 2021). Revenue: US$5.21m (up 7.7% from 2Q 2021). Net loss: US$1.34m (loss widened 19% from 2Q 2021). Over the next year, revenue is forecast to grow 16%, compared to a 22% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 12
ProntoForms Corporation to Report Q2, 2022 Results on Aug 18, 2022 ProntoForms Corporation announced that they will report Q2, 2022 results Pre-Market on Aug 18, 2022 Announcement • Jun 29
ProntoForms Corporation LaunchesNew Automation Capabilities for Microsoft SharePoint(TM) and is Now Available on Microsoft AppSource(TM) ProntoForms Corporation announced that it has launched new automation capabilities for SharePoint. In addition, the ProntoForms platform is now available on Microsoft AppSource. The new SharePoint List Repeatable Data Destination feature expands the use of automated field data collection and processing, making it more efficient to get structured repeatable data into a SharePoint List. These enhancements will enable field workers to deal with variability in work sites, capture data for complex work, and more. This new feature comes in conjunction with the new availability of the ProntoForms platform on Microsoft AppSource, which will drive greater visibility and enable rapid access for organizations. Together they are key to enterprise growth as 80% of Fortune 500 organizations have adopted SharePoint for data collaboration. ProntoForms customers alone collectively submit over 700,000 SharePoint data source or destination submissions per month for critical field service collaboration. Take for example a top five energy customer that uses the ProntoForms platform to rapidly scale app development across multiple divisions and geographies. ProntoForms’ pre-integration with SharePoint enables all data collected in the field to flow to SharePoint while respecting enterprise data security requirements. This additional data flows into Power BI™ to provide detailed reporting on risk, compliance, and field team performance. This ultimately equates to more quantifiable time savings and compliance benefits. Announcement • Jun 23
ProntoForms Corporation Approves Board Changes ProntoForms Corporation announced the results of its annual meeting of shareholders held on June 22, 2022, approved Sandy McIntosh was elected as a new member of the ProntoForms Board of Directors at the meeting, replacing Ed Ogonek who did not stand for re-election after serving on the ProntoForms board for nearly 11 years. Reported Earnings • May 06
First quarter 2022 earnings released: US$0.012 loss per share (vs US$0.009 loss in 1Q 2021) First quarter 2022 results: US$0.012 loss per share (down from US$0.009 loss in 1Q 2021). Revenue: US$5.04m (up 9.3% from 1Q 2021). Net loss: US$1.54m (loss widened 40% from 1Q 2021). Over the next year, revenue is forecast to grow 21%, compared to a 25% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target decreased to CA$1.50 Down from CA$1.63, the current price target is an average from 2 analysts. New target price is 142% above last closing price of CA$0.62. Stock is down 46% over the past year. The company posted a net loss per share of US$0.035 last year. Announcement • Apr 09
ProntoForms Corporation, Annual General Meeting, Jun 22, 2022 ProntoForms Corporation, Annual General Meeting, Jun 22, 2022. Announcement • Mar 30
ProntoForms Corporation Expands Laptop and Desktop Capabilities with the Release of Prontoforms for macOS ProntoForms Corporation announced the general availability of a new client app for the macOS operating system software, available on the macOS App Store® online store. ProntoForms has always been a mobile-first and offline-first solution, built for field teams. For ProntoForms, this has always meant a clear focus on familiar, intuitive experiences for mobile phones and tablets. However customers have also made it clear that functionality on laptops and at the desk are also an important part of the toolset for field teams to enable productivity at the edge of the organization. Workflows that empower collaboration across multiple experts in the field and in the office are made possible by capabilities like ProntoForms Teamwork combined with the ability to contribute from any mobile or desktop device. Expanding support to macOS increases the ability to implement approval workflows and ProntoForms Teamwork using a wider range of existing and newly deployed devices. For some field technicians, the use of proprietary software that only runs on laptops is strictly required for compliance. The ability to use ProntoForms on these devices is key for a great user experience, an integrated solution, and overall productivity. Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$0.035 loss per share (down from US$0.013 loss in FY 2020). Revenue: US$19.4m (up 9.6% from FY 2020). Net loss: US$4.46m (loss widened 201% from FY 2020). Revenue exceeded analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 18%, compared to a 30% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Mar 06
ProntoForms Corporation to Report Q4, 2021 Results on Mar 10, 2022 ProntoForms Corporation announced that they will report Q4, 2021 results Pre-Market on Mar 10, 2022 Announcement • Feb 02
ProntoForms Corporation Announces Board Changes ProntoForms Corporation announced that Conrad Smits, former Head of Services & Solution Delivery at Philips and current External Advisor at Bain & Company and Principal at CSA Advisory LLC has accepted an invitation to join ProntoForms’ board of directors. As Head of Services & Solution Delivery, Smits was responsible for directing the transformation of Philips’ worldwide services and solution delivery organization as part of the corporate strategy to achieve global healthcare solutions leadership. Prior to this he led a number of the global healthcare technology businesses of Philips. Smits also held executive positions at Danone and Coca-Cola and is a member of the Service Council. Smits replaces the current director Jon Shantz who is stepping down from ProntoForms’ board after more than a decade of contribution. Board appointments are subject to the approval of the TSX Venture Exchange. Recent Insider Transactions • Dec 23
Founder recently sold CA$56k worth of stock On the 17th of December, Alvaro Pombo sold around 60k shares on-market at roughly CA$0.94 per share. This was the largest sale by an insider in the last 3 months. This was Alvaro's only on-market trade for the last 12 months. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Scott Berg was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2021 earnings released: US$0.009 loss per share (vs US$0.005 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$4.89m (up 7.5% from 3Q 2020). Net loss: US$1.11m (loss widened 83% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Sep 18
Founder exercised options and sold CA$193k worth of stock On the 14th of September, Alvaro Pombo exercised 550.00k options at around CA$0.31, then sold 275k of the shares acquired at an average of CA$1.01 per share and kept the remainder. For the year to December 2020, Alvaro's total compensation was 49% salary and 51% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2020, Alvaro's direct individual holding has decreased from 4.65m shares to 4.45m. Company insiders have collectively sold CA$797k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 21
Second quarter 2021 earnings released: US$0.009 loss per share (vs US$0.002 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$4.84m (up 16% from 2Q 2020). Net loss: US$1.12m (down US$1.33m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 07
First quarter 2021 earnings released: US$0.009 loss per share (vs US$0.001 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$4.61m (up 8.7% from 1Q 2020). Net loss: US$1.10m (loss widened US$936.9k from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 06
Price target decreased to CA$1.75 Down from CA$2.10, the current price target is provided by 1 analyst. New target price is 61% above last closing price of CA$1.09. Stock is up 45% over the past year. Reported Earnings • Mar 13
Full year 2020 earnings released: US$0.013 loss per share (vs US$0.02 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$17.7m (up 17% from FY 2019). Net loss: US$1.49m (loss narrowed 34% from FY 2019). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 0.1%. Over the next year, revenue is forecast to grow 18%, compared to a 40% growth forecast for the Software industry in Canada. Announcement • Mar 05
ProntoForms Corporation to Report Q4, 2020 Results on Mar 11, 2021 ProntoForms Corporation announced that they will report Q4, 2020 results Pre-Market on Mar 11, 2021 Announcement • Feb 24
ProntoForms Deployed to 400 Field Engineers to Improve Hospital Radiation Asset Uptime and Expand Services ProntoForms Corporation announced that a global medical radiation device provider has deployed ProntoForms to 400 field engineers. The global medical radiation device manufacturer provides sophisticated radiotherapy technology and equipment for hospital and clinical cancer treatment. Asset uptime is achieved by empowering field engineers to reliably handle complex installation and ongoing maintenance through instant access to technical specs, manuals, service history, and parts inventory. The organization’s implementation of ProntoForms also integrates directly with their leading field service management and financial systems, allowing technicians to identify opportunities for new services and generate accurate quoting and billing documents for customers. Announcement • Feb 11
ProntoForms Corporation Releases New Enterprise-Grade Multi-User Workflow Capabilities to Streamline Service Execution in the Field ProntoForms Corporation announced the official release of ProntoForms Teamwork. The latest powerful expansion of the ProntoForms platform facilitates collaboration by allowing work-in-progress forms to be submitted and made available to other mobile users. These users can then continue executing the service event in a tracible way. ?ProntoForms Teamwork does this through a combination of advanced capabilities: Drafted forms can be submitted to the cloud, ignoring constraints like required fields. Drafts can be submitted multiple times before a complete, fully-validated record is sent to the ProntoForms cloud. Forms work across multiple device platforms (iOS, Android, W10)?. A version of the record is created with every submission, with technician tracking on each question to determine who answered what and when. A new option to generate interim report documents (PDF/Word) and route them through data destinations. Integration with work order management systems through a combination of mobile app-to-app and cloud-based data destinations. Together, these capabilities enable organizations to more effectively complete field work with multiple layers of complexity and variability. Work that requires several contributors of various skill levels and expertise is now more efficient to execute. With ProntoForms Teamwork, technicians have a contextual view of what was completed by previous contributors. This ensures that productivity and quality is maintained—no matter how often projects are paused or switch hands. Status and progress details are no longer blind spots for team leaders as work-in-progress forms can now be easily tracked, resulting in better service delivery and clearer customer communication. Finally, ProntoForms Teamwork enhances ProntoForms’ strong compliance and audit tracing with new, more precise insight into past service events with knowledge of which technician did what throughout the service process. By tracking accountability across the organization, field teams can maintain a high-level of effectiveness and accuracy to meet stringent compliance requirements and generate standardized and credible reporting. Executive Departure • Feb 05
Senior Vice President of Global Sales Michael Cho has left the company On the 29th of January, Michael Cho's tenure as Senior Vice President of Global Sales ended after 2.4 years in the role. We don't have any record of a personal shareholding under Michael's name. Michael is the only executive to leave the company over the last 12 months. Announcement • Jan 31
ProntoForms Corporation Announces Change in Sales Leadership ProntoForms Corporation announced that Senior Vice President of Global Sales, Michael Cho is departing his position effective immediately. Mr. Cho’s current responsibilities will be assumed by members of the ProntoForms leadership team while the Company engages the replacement candidate. Price Target Changed • Jan 14
Price target raised to CA$2.10 Up from CA$1.20, the current price target is provided by 1 analyst. The new target price is 52% above the current share price of CA$1.38. As of last close, the stock is up 89% over the past year. Is New 90 Day High Low • Jan 06
New 90-day high: CA$1.05 The company is up 18% from its price of CA$0.89 on 07 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Software industry, which is up 20% over the same period. Announcement • Dec 23
A Global Medical Device Manufacturing Company Deploys ProntoForms to over 850 Frontline Workers to Improve Field Processes and Quality Control ProntoForms Corporation announced that a global medical device manufacturing company has deployed ProntoForms to over 850 frontline workers. The global medical device manufacturing company is a multi-billion-dollar organization that specializes in surgical devices that help surgeons provide quality care to their patients. The company was exploring how to create digital checklists for surgical equipment installation and maintenance. To minimize risks, these checklists needed to support stringent FDA validation and compliance requirements within the workflow and uphold quality control with every submission. ProntoForms was the solution of choice due to its ease of use, ability to move large data sets, and rigorous data compliance measures. Ultimately, the deployment of ProntoForms will allow them to improve asset installation, maintenance, and quality assurance. Improved maintenance in particular will help increase asset uptime and performance, thereby minimizing risks to both patients and surgeons. Recent Insider Transactions • Nov 29
Founder recently sold CA$182k worth of stock On the 24th of November, Alvaro Pombo sold around 200k shares on-market at roughly CA$0.91 per share. This was the largest sale by an insider in the last 3 months. This was Alvaro's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Nov 27
Insider exercised options and sold CA$430k worth of stock On the 24th of November, Mansell Nelson exercised 745.00k options at a strike price of around CA$0.31 and sold these shares for an average price of CA$0.89 per share. This trade did not impact their existing holding. Since September 2020, Mansell has not owned shares directly. Company insiders have collectively sold CA$626k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Nov 16
Independent Director exercised options to buy CA$152k worth of stock. On the 10th of November, Jonathan Shantz exercised options to buy 160.00k shares at a strike price of around CA$0.38, costing a total of CA$60k. This transaction amounted to 94% of their direct individual holding at the time of the trade. Since June 2020, Jonathan's direct individual holding has increased from 170.00k shares to 330.00k. Company insiders have collectively sold CA$212k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.005 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: US$4.55m (up 19% from 3Q 2019). Net loss: US$609.7k (loss widened 45% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 36% per year. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the Software industry in Canada. Announcement • Oct 30
ProntoForms Corporation to Report Q3, 2020 Results on Nov 05, 2020 ProntoForms Corporation announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 05, 2020 Is New 90 Day High Low • Oct 28
New 90-day high: CA$0.96 The company is up 37% from its price of CA$0.70 on 30 July 2020. The Canadian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Oct 08
New 90-day high: CA$0.89 The company is up 17% from its price of CA$0.76 on 08 July 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 19
New 90-day high: CA$0.85 The company is up 35% from its price of CA$0.63 on 19 June 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Aug 14
ProntoForms Corporation to Report Q2, 2020 Results on Aug 20, 2020 ProntoForms Corporation announced that they will report Q2, 2020 results at 9:00 AM, Eastern Standard Time on Aug 20, 2020